The Economics of Everyday Things
The Economics of Everyday Things

62. Title Insurance

August 3, 2026

AI Summary

5 min read

When Christy Bieber bought a house in Florida in 2023, she did everything by the book: signed a contract, got an inspection, filled out paperwork, wrote large checks, and moved in that fall. Then a woman showed up at her door. Bieber initially assumed the visitor was the previous owner paying a friendly visit. "And then she's like, no, no, you don't understand. I own this house and the HOA took it from me, and I'm getting it back." Bieber had the title to the home — the legal concept of ownership, not a physical document — and she had spent a few thousand dollars on something she had previously considered a waste: title insurance. As it turned out, that insurance would do exactly what it promises, even though for most home buyers, it never needs to.

What title insurance actually insures

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What you'll learn

  • 1 (01:04) **A Surprise Visitor Threatens a New Homeowner** - Christy Bieber's story: a woman arrives claiming she owns the house Bieber just bought.
  • 2 (03:16) **Why Title Isn't a Document, But a Risk** - The host explains the fundamental problem title insurance solves.
  • 3 (04:16) **The Industry's Origins and Two-Layer System** - The history and structure of the title insurance market.
  • 4 (05:18) **The Title Search: Before and After the Sale** - How the process works and when insurance kicks in.
  • 5 (06:13) **How Bieber's Title Insurance Actually Worked** - Two real-world claims resolved by the insurer.
  • 6 (07:56) **The Shocking Truth: Insurers Almost Never Pay Claims** - The financial reality of the industry.
  • 7 (10:10) **Extraordinarily Low Loss Ratios** - The key statistic that reveals the industry's profitability.

+ Full timestamped outline available in the app

Show Notes

Almost everyone who buys a home spends thousands of dollars on title insurance. Most of them don’t understand it, and almost none of them use it. So why does it exist? Zachary Crockett closes the deal. This episode was originally published on September 8th, 2024.


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